Top 10 Reasons to Get Full Coverage Car Insurance

You have just finished signing all of those loan papers to buy a shiny new car. Somewhere in the stack of sheets requiring your signature time after time was the one that said you would keep collision insurance on this car until the loan is retired. If it is time to pay a call on your insurance agent, make sure that you have enough insurance to protect you and the bank. During the insurance review, you may discover a number of excellent reasons to keep full coverage insurance on this new car.

You need full coverage insurance so that a loan against the car can be paid off.

The obvious reason for having full coverage insurance is to protect you and the bank while you still owe for the car. While it is possible that the payment from the insurance claim may not be enough to cover the entire outstanding loan balance, it will will go a long way toward it. The difference between an insurance settlement and the loan on a car will usually be less than twenty percent of the balance due. This is much better than having nothing covered.

Full coverage insurance will protect the passengers in your car.

When you drive, there may be times when you have passengers. If you have a family, your car will have passengers nearly all of the time unless you are heading to work. In the event of an accident, you car insurance will act as a secondary health insurance policy to help cover the costs of care. It will also cover the passengers in the other vehicles that may be involved in the accident.

Having full coverage will assist you in replacing broken glass on your car.

Whether the glass is broken by a flying rock or an act of vandalism, full coverage insurance will cover all or part of the cost of repair or replacement depending on your policy. This part of the insurance falls under the comprehensive portion of the policy.

Acts of nature are only covered if you have full coverage insurance.

Hail, flood and storm damage are also covered under the comprehensive car insurance policy. You need this type of insurance to protect you from a loss caused by those things that you cannot help. Even the most secure places can allow some types of damage caused by natural occurrences or disasters.

Some policies will only pay for car theft if you have full coverage.

Many times, theft is also a part of your comprehensive insurance. If your car is stolen or broken into and damaged, you will need comprehensive insurance to pay for this loss. Every day, cars are stolen off of parking lots, city streets and driveways. With full coverage insurance, you can rest comfortably knowing that the value of your car is protected.

Full coverage insurance will pay to have your car repaired after an accident.

The main reason that most people carry full coverage insurance is to have their car repaired after an accident. Your full coverage insurance will pay whether the accident is your fault or not. Generally, the liability insurance of the other driver will pay for you car, but if the other driver is not insured, your insurance must pick up the cost.

Most full coverage policies will extend to cover a car that you rent.

If you ever need to rent a car, you will need full coverage insurance to avoid having to buy the expensive short-term insurance that car rental companies sell. Your full coverage policy will extend to protect your assets while driving the rental car. It will also pay to repair the rental car if needed.

Vandalism protection only comes with full coverage car insurance.

When your vehicle is vandalized, full coverage car insurance will pay for the repairs. It does not matter whether it is a key scraped down the side of the car, or it is destroyed by some means. Your full coverage insurance will take care of it.

Full coverage insurance fulfills state liability insurance requirements.

The other end of full coverage insurance is the liability insurance that is state mandated. Your full coverage car insurance will pay for anything or anyone damaged by your vehicle when you are driving. Unlike the collision and comprehensive insurance that can pay tens of thousands of dollars, the liability insurance may pay into the hundreds of thousands of dollars.

Having full coverage will also give you protection if you drive a car owned by someone else.

The nice thing about full coverage insurance is that if you have to drive another persons vehicle, you are covered. The same is true if your car is driven by someone else with your permission. All of your coverage extends to the other vehicle as a back-up insurance to the owner's policy.